Key Insights
It is tempting to do everything in-house. The more you can do in-house, the less you pay the third parties. But at a granular level, this approach can prove to be challenging.
When you focus your time and resources towards one initiative, you are missing out on opportunities towards another. This is especially true for your sales, an area that is becoming increasingly complex and difficult amid the spurt of digital channels.
While sales might feel like one of the most important parts of your business, there are unexpected benefits when you go for outsourcing your sales.
Essentially, an outsourced sales development is a model where a company hires a sales development team to assist in scaling the business. An outsourced sales team can help an expanding venture to get their product in front of the customer while they build an internal salesforce.
A Gartner survey highlights that sales reps have roughly 5% of a customer’s time during their B2B buying journey.
At the same time, the number of people involved in a B2B purchase has grown from 5 to 11. All these factors have not only added to the complexity of B2B buying but have also increased the length of the purchase cycle.
So should you bring in a dedicated resource? What advantages are in store for you and what value does it add? Let’s look at some of the top reasons why companies of all sizes opt for sales outsourcing.
#1. You Want Faster Time to Market
The average time for companies to fill a position stands at 49 days, according to a inkedIn report. So even if you hire a sales rep, it is almost over a month before your new team begins to close new business. When you are scaling up, an outsourced sales force can help you to enter your market quickly.
It is also a great way to ensure that your company maintains steady growth while freeing up time for your internal teams to focus on more initiatives.
#2. You Want to Reach Out to Your TA
Not every prospective customer will become a serious lead for your business.
With that being said, you need to have the time to connect with leads who are more likely to make a significant impact on your business. When you outsource appointment setting and other crucial aspects of initial connections, you ensure that you are meeting with qualified and sales-ready leads.
An outsourced sales team will take time to identify your buyer personas, helping you to narrow down your target audience, and create a streamlined sales funnel.
#3. You Want to Connect with Specialized Talent
New hires can solve existing issues – or create new ones.
Going through a hiring and onboarding process might slow you down. Additionally, it might alter the team dynamics. But when you join forces with the right outsourced sales team, you benefit from the insights of highly trained professionals who know how to sell software.
With sales outsourcing, you not only have access to a talented group but also experts who leverage cutting-edge B2B sales techniques and analytics to augment your business.
#4. You Want to Expand Revenue Streams
An outsourced sales team can also pave the way for a more cost-effective sales culture.
Apart from the savings that your company is making by outsourcing sales functions, you will also notice a change in your perceptions. Rather than focusing on the savings, it will be time to think of the revenue you will drive.
An outsourced sales staff will focus on lower acquisition costs and increase the lifetime value of their clients by taking advantage of every revenue stream. These include up-sell, cross-sell as well as renewals.
#5. You Want to Be Recession-Resilient
You can plan for every single disaster but life will always present you with a challenge you could have never anticipated.
If your venture runs on a tight margin, then a single event has the potential to impact your bottom line for years. Take the COVID-19 pandemic which triggered unprecedented mass layoffs and furloughs.
Outsourced sales can lessen the impact of such disruptions. Some of the biggest companies have enhanced their operations with outsourced staff to complement their sales team and other non-IT teams.
For Smarter Growth
An outsourced sales team allows companies to focus their limited resources on areas of the highest impact. Such specialized teams can help organizations to reduce their opportunity costs by eliminating time-consuming steps such as in-house recruitment, onboarding, and training.
The benefits of sales outsourcing are umpteen and as your business grows and changes, the support of an outsourced sales team can help you get the results you want.
From flexibility to professional representation, businesses – both small and large- are scaling up without adding permanent overheads.
